Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 27/04/20

Litecoin

Litecoin rose by 0.52% on Sunday. Reversing a 0.31% decline from Saturday, Litecoin ended the week up by 5.51% to $44.63.

It was a mixed start to the day. Litecoin fell to a mid-morning low $44.26 before striking an early afternoon intraday high $45.39.

Steering clear of the major support levels, Litecoin came up against the first major resistance level at $45.37 before hitting reverse.

The reversal saw Litecoin fall to a late afternoon intraday low $43.76. Steering clear of the first major support level at $43.67, Litecoin recovered to $44.70 levels in a final hour rebound.

At the time of writing, Litecoin was up by 0.38% to $44.80. A mixed start to the day saw Litecoin fall to an early morning low $44.60 before striking a high $45.28.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move back through to $45 levels to support another run the first major resistance level at $45.43.

Support from the broader market would be needed, however, for Litecoin to breakout out from the morning high $45.28.

Barring an extended crypto rally, the first major resistance level at $45.43 would likely limit any upside on the day.

Failure to move back through to $45 levels could see Litecoin hit reverse.

A fall through to sub-$44.60 levels would bring the first major support level at $43.80 into play.

Barring a broad-based crypto sell-off, however, Litecoin should steer clear of the second major support level at $42.96.

Looking at the Technical Indicators

Major Support Level: $43.80

Major Resistance Level: $45.43

23.6% FIB Retracement Level: $62

38.2% FIB Retracement Level: $78

62% FIB Retracement Level: $104

Stellar’s Lumen

Stellar’s Lumen rose by 0.50% on Sunday. Partially reversing a 1.62% gain from Saturday, Stellar’s Lumen ended the week up by 27.11% to $0.062309.

It was a particularly choppy day for Stellar’s Lumen. Recovering from a mid-morning low $0.061144, Stellar’s Lumen rallied to an early afternoon high $0.062909 before hitting reverse.

Leaving the support and major resistance levels untested, Stellar’s Lumen slid to a mid-afternoon intraday low $0.061023.

Steering clear of the first major support level at $0.060750, Stellar’s Lumen rallied to a late intraday high $0.062931.

Falling short of the first major resistance level at $0.063060, Stellar’s Lumen briefly fell sub-$0.062 levels before bouncing back to end the day in the green.

At the time of writing, Stellar’s Lumen was down by 0.77% to $0.061827. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.062448 before falling to a low $0.061827.

Stellar’s Lumen left the major support and resistance levels untested early on.

For the day ahead

Stellar’s Lumen would need to move back through to $0.062 levels to support a run at the first major resistance level at $0.063150.

Support from the broader market would be needed, however, for Stellar’s Lumen to breakout from Sunday’s high $0.062931.

Barring a broad-based crypto rebound, the first major resistance level would likely limit any upside on the day.

Failure to move back through to $0.062 levels could see Stellar’s Lumen fall deeper into the red.

A fall back through to sub-$0.06180 levels would bring the first major support level at $0.06124 into play.

Barring a broad-based crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.061 levels.

Looking at the Technical Indicators

Major Support Level: $0.06124

Major Resistance Level: $0.06315

23.6% FIB Retracement Level: $0.1051

38% FIB Retracement Level: $0.1433

62% FIB Retracement Level: $0.2050

Tron’s TRX

Tron’s TRX rose by 1.91% on Sunday. Following on from a 0.02% gain on Saturday, Tron’s TRX ended the week up by 10.34% to $0.014248.

It was also a choppy day for Tron’s TRX. Recovering from a mid-morning low $0.013908, Tron’s TRX rallied to an early afternoon intraday high $0.014249.

Falling short of the first major resistance level at $0.014290, Tron’s TRX fell to a late afternoon intraday low $0.013855.

Steering clear of the first major support level at $0.013470, Tron’s TRX bounced back to $0.01420 levels.

At the time of writing, Tron’s TRX was up by 0.91% to $0.014378. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.014251 before striking a high $0.014420.

Steering clear of the major support levels, Tron’s TRX broke through the first major resistance level at $0.01438.

For the Day Ahead

Tron’s TRX would need to break back through the first major resistance level at $0.01438 to take a run at the second major resistance level at $0.01451.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.014420.

Barring an extended crypto rally, the first major resistance level at $0.01438 would likely limit any upside.

Failure to break back through the first major resistance level could see Tron’s TRX struggle later in the day.

A fall back through to sub-$0.01410 levels would bring the first major support level at $0.01399 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.01372.

Looking at the Technical Indicators

Major Support Level: $0.01399

Major Resistance Level: $0.01438

23.6% FIB Retracement Level: $0.0322

38.2% FIB Retracement Level: $0.0452

62% FIB Retracement Level: $0.0663

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

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